Harris Scarfe founder Donald Trescowthick sells former thoroughbred stud

Title deeds show that Duncan Alexander McIntyre, a Melbourne real estate agent, has entered into a purchase agreement with the Trescowthicks.

Situated on the edge of Melbourne’s urban growth boundary, the property has been acquired for land-banking purposes.

Sir Donald Trescowthick  made Harris Scarfe into one of the country’s biggest department store groups when he assumed control in the 1970s.

He spent 16 years on the BRW Rich List before Harris Scarfe collapsed in 2001. The company was later sold to South African retailing conglomerate Pepkor.

Cornwall Park was marketed by CBRE’s Tim Bennetts and James Beer, who declined to comment on the price or the identity of the purchaser.

“Cornwall Park was well received by the market, as we had a number of parties that saw value in the offering as a substantial land bank close to one of Melbourne’s fastest-growing growth corridors,” Mr Bennetts said.

“The property’s scale and proximity to Melbourne were key features that attracted buyers, and were the primary reasons for the level of inquiry received.”

Cornwall Park is a historically significant rural property dating back to the late 1890s. It emerged from the break-up of the large pastoral estates in Melton, which is now an outer-Melbourne residential growth area.

The property includes a large homestead built in 1897 for grazier J. Black before its late-20th century conversion into a horse stud.

It sold with significant original stud infrastructure including five residences, an office building, 90 horse boxes, eight stallion boxes, serving barn, round yards and machinery sheds.